CHS grows STL capacity with new terminal deal

: Agriculture, Fertilizers, Freight
25/01/08

US agribusiness CHS will increase its fertilizer product delivery capacity to farmers after securing an exclusive deal with an Ingram Barge subsidiary at its St Louis, Missouri, terminal ahead of this spring.

Ingram Barge subsidiary SCF Lewis and Clark Terminals will only move CHS product at its Municipal River Terminal in St Louis, allowing CHS access to more rail and barge shipments for distribution.

"This new pathway improves the efficiency and flexibility in our supply chain, so our farmers can have access to needed inputs, particularly during the busy growing season," CHS crop nutrients vice president Roger Baker said.

The CHS supply chain includes imports and the domestic distribution of nitrogen, phosphate, potassium and sulfur fertilizers.

CHS is a global agribusiness with a portfolio that includes agronomy, grains and energy businesses that reached a revenue of $39bn for fiscal year 2024. Ingram Barge Company operates a fleet of 150 towboats and 5,100 barges that transports commodities across the US river system.

By Meghan Yoyotte

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25/04/17

Canada grants tariff relief to automakers

Pittsburgh, 17 April (Argus) — The Canadian government will allow automakers to circumvent retaliatory tariffs to continue importing US-assembled vehicles if the companies keep making cars in Canada. Canada began taxing imports of US-made vehicles and parts on 9 April at a 25pc rate in response to a similar tariff the US had implemented. Canada's tariff on vehicle imports from the US will not apply to car companies that keep their Canadian plants running, the country's finance minister said this week. The measure attempts to prevent closures of auto plants and layoffs in the Canadian automotive sector that the US tariffs threaten to cause. Automaker Stellantis paused production at its Windsor, Ontario, assembly plant in early April to evaluate the US tariff on vehicle imports. The plant will re-open on 22 April, Stellantis said. General Motors also plans to reduce production of its electric delivery fan at its Ingersoll, Ontario plant. The slowdown will result in layoffs of 500 workers, the Unifor union said. The automotive industry in the US, Canada and Mexico has struggled to adapt its supply chains to the new tariffs because the US, Canada Mexico free trade agreement (USMCA) and its predecessor helped establish an interconnected North American auto sector. In another measure, companies in Canada will get a six-month reprieve from tariffs on imports from the US used in manufacturing, food and beverage packaging. The six-month relief also applies to items Canada imports from the US used in the health care, public safety and national security sectors. "We're giving Canadian companies and entities more time to adjust their supply chains and become less dependent on US suppliers," finance minister Francois-Philippe Champagne said in a statement. By James Marshall Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Risks rising for possible recession in Mexico: Analysts

25/04/17

Risks rising for possible recession in Mexico: Analysts

Mexico City, 17 April (Argus) — The Mexican finance executive association (IMEF) lowered its 2025 GDP growth forecast for a second consecutive month in its April survey, citing a rising risk of recession on US-Mexico trade tensions. In its April survey, growth expectations for 2025 fell to 0.2pc, down from 0.6pc in March and 1pc in February. Nine of the 43 respondents projected negative growth — up from four in March, citing rising exposure to US tariffs that now affect "roughly half" of Mexico's exports. The group warned that the risk of recession will continue to rise until tariff negotiations are resolved, with the possibility of a US recession compounding the problem. As such, IMEF expects a contraction in the first quarter with high odds of continued negative growth in the second quarter — meeting one common definition of recession as two straight quarters of contraction. Mexico's economy decelerated in the fourth quarter of 2024 to an annualized rate of 0.5pc from 1.7pc the previous quarter, the slowest expansion since the first quarter of 2021, according to statistics agency data. Mexico's statistics agency Inegi will release its first estimate for first quarter GDP growth on April 30. "A recession is now very likely," said IMEF's director of economic studies Victor Herrera. "Some sectors, like construction, are already struggling — and it's just a matter of time before it spreads." The severity of the downturn will depend on how quickly trade tensions ease and whether the US-Mexico-Canada (USMCA) free trade agreement is successfully revised, Herrera added. But the outlook remains uncertain, with mixed signals this week — including a possible pause on auto tariffs and fresh warnings of new tariffs on key food exports like tomatoes. IMEF also trimmed its 2026 GDP forecast to 1.5pc from 1.6pc, citing persistent tariff uncertainty. Its 2025 formal job creation estimate dropped to 220,000 from 280,000 in March. The group slightly lowered its 2025 inflation forecast to 3.8pc from 3.9pc, noting current consumer price index should allow the central bank to continue the current rate cut cycle to lower its target interest rate to 8pc by year-end from 9pc. IMEF expects the peso to end the year at Ps20.90/$1, slightly stronger than the Ps21/$1 forecast in March. By James Young Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

US' Chinese ship port fee decision Thursday: USTR

25/04/16

US' Chinese ship port fee decision Thursday: USTR

New York, 16 April (Argus) — The US Trade Representative's (USTR) office said it will release details Thursday on proposed fees for operators of Chinese-built ships calling at US ports. The closely-watched proposals — part of President Donald Trump's plan to kick-start a flagging US shipbuilding industry and challenge Chinese dominance in the sector — were the subject of hearings and public comments last month in Washington, DC. The original proposal included fees of up to $1.5mn per port call for ships based on the percentage of Chinese-built vessels in an operator's fleet. Shipping market participants said the proposals could significantly curtail US import and exports and hurt the broader economy. Higher costs for shipping would likely be passed on to US consumers . Since the public hearings, the USTR has signaled that the fees would likely be less onerous than under the original proposal, and that not all of them would be implemented . By Charlotte Bawol Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Japan’s Honda to produce more cars in US, less locally

25/04/16

Japan’s Honda to produce more cars in US, less locally

Tokyo, 16 April (Argus) — Japanese car producer Honda will produce a car model at its US facility instead of its domestic facility from as early as June, the company told Argus today, possibly to avoid the US' tariffs on foreign car deliveries. Honda will stop manufacturing the Civic Hybrid 5-door model at the country's eastern Yorii plant during June-July and switch the production to its US plant in the state of Indianna, the representative of the firm told Argus . Honda produced 3,000 units of the model during February and March, he added. This comes as part of the company's mid-to long term "optimisation strategy", according to the firm, reiterating that theproduction switch is not a countermeasure against the US' across-the-board 25pc tariff on automobile imports that took effect on 3 April. But this may not be entirely convincing since Honda just started producing the model in February, leaving room for speculation that the transfer is part of a wider strategy to reduce delivery costs to the US market. Honda did not disclose whether the Indiana plant will procure auto parts from its suppliers in Canada or Mexico . Japanese auto industry is still bracing for further developments in the US tariff policy on automobile and auto parts, although US president Donald Trump on 14 April suggested possibly pausing the tariff. Tokyo and Washington will hold a ministerial talk this week to negotiate trade issues, including the levy on auto delivery, along with the 24pc "reciprocal" tariffs the Trump administration separately imposed on Japanese imports. Japanese government is hoping to negotiate for a better tariff deal during the 90-day pause on the reciprocal tariff imposition by the US government, and the automobile industry is seen as a key sector to settle the deal. The US president has long expressed his dissatisfaction against the auto trade imbalance between two countries. Japan exported around 1.3mn units of passenger vehicles to the US in 2024, while Japan purchased around 23,000 units of US passenger vehicles in 2023. By Yusuke Maekawa Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Argentina FX change, return of tax to spur exports

25/04/14

Argentina FX change, return of tax to spur exports

Sao Paulo, 14 April (Argus) — Argentinian farmers will likely boost exports of soybeans, corn and other products in coming months after the government loosened foreign exchange controls and President Javier Milei said export taxes will rise again at the end of June. Those two factors, combined with better weather conditions for soybean and corn harvesting should spur sales, according to Javier Preciado Patiño, director of RIA Consultores. The Argentinian peso is expected to weaken with the new exchange rules, which will move it from trading with a narrow peg to the dollar to moving within a wider, slowly expanding, range against the US currency. A weaker currency will increase the number of pesos Argentinian farmers receive in exchange for products priced in dollars, such as corn, wheat, soybeans, soybean meal and soybean oil. The new rules also get rid of a special exchange rate for exporters that left farmers with less money for their sales abroad, which will also encourage producers to sell. Milei announced the exchange rule changes on 11 April and they went into effect today. As a result, the value of the peso weakened through out the day, losing 11pc relative to the US dollar. Argentina has gone through a series of complicated exchange rate regimes over the years intended to prevent a rapid devaluation of the peso, keep dollars from flowing out of the country and allow the country's central bank to maintain enough dollar reserves to meet debt servicing needs and import necessary goods. Looming tax increase Milei's announcement today that a temporary tax reduction on ag exports will end as expected in June should also push farmers to sell more of their crops in the next few months. Until this morning, many people in the farming sector had hoped that the tax cut initiated by the government in January would be extended, or that duties would be eliminated altogether . But Milei confirmed the end of the tax cut in June during a radio interview today. The temporary cuts, which reduced the tax on soybeans to 26pc from 33pc, cut soybean product taxes to 24.5pc from 31pc, and trimmed the levy on corn, wheat, barley and sorghum to 9.5pc from 12pc, will revert to their previous levels, the president said. "Let farmers know that if they want to sell, they should sell now, because the taxes will return" as scheduled, he said. Argentinian governments have for years taxed exports of agricultural products, taking advantage of the country's status as a farming giant to raise much-needed funds, but also reducing farmers' incomes. Waterlogged fields Improved weather is also expected to boost sales, especially for soybeans, in the next few weeks. Argentina's soybean harvest got off to a slow start about two weeks ago because steady rains in many areas had left fields and rural roads too soggy for farm equipment to enter. Sunny weather in recent days has helped dry fields out, and farmers in those areas will want to pick up the pace to take advantage of improved conditions to make up for lost time, according to Patiño. The improving pace of harvest is expected to provide farmers ample supplies to sell in the coming weeks, allowing them to exploit of the advantageous currency situation. By Jeffrey T. Lewis Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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